Rs 6,584.71 crore order book: This multibagger telecom infrastructure company receives order worth Rs 137.63 crore from Reliance Retail Limited!
The stock gave multibagger returns of 430 per cent in 3 years and over 740 per cent returns in 1 decade.
HFCL Ltd informed that the company along with its material subsidiary, HTL Limited, has received purchase orders aggregating to Rs 137.63 crore from Reliance Retail Limited for the supply of optical fiber cables to one of the leading private telecom operators of the country. The order is to be executed by December 2023.
HFCL Ltd (Himachal Futuristic Communications Limited) is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration and manufacture and supply of high-end telecom equipment, Optical Fiber and Optic Fiber Cable (OFC).
Talking about the financials, the company has a market cap of over Rs 9,000 crore. According to the Quarterly Results, the company reported net sales of Rs 995 crore in Q1FY24 compared to net sales of Rs 1,051 crore in Q1FY23. The net profit increased by 43.40 per cent to Rs 76 crore in Q1FY24 compared to Rs 53 crore in Q1FY23.
Order book update: As of June 30, 2023, the company’s order book stood at Rs 6,684.71 crore. Out of the total order book, public telecommunication & EPC's current order book is Rs 3,591.67 crore, defence communication’s current order book is Rs 1,846.57 crore and railway communication’s current order book is Rs 656.92 crore.
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On Tuesday, shares of HFCL Ltd surged 3.68 per cent to Rs 66.15 per share with an intraday high of Rs 66.75 and an intraday low of Rs 63.76. The shares of the company saw a spurt in volume by more than 2.55 times on BSE.
The stock gave multibagger returns of 430 per cent in 3 years and over 740 per cent returns in 1 decade. Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.